Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece

CNSNews.com ^ | 03/09/2015 | Barbara Hollingsworth

[Jan_Sobieski]

(CNSNews.com) -- The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25.

“The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today. "Indeed, it may well be in worse fiscal shape than any developed country, including Greece," he said. (See Kotlikoff---Testimony-to-Senate-Budget-Committe)

In January, Fitch downgraded Greece, whose debt-to-Gross Domestic Product (GDP) ratio is 175 percent, from Stable to Negative.

“This declaration of national insolvency will, no doubt, shock those of you who use the officially reported federal debt as the measuring stick for what our country owes,” Kotlikoff told committee members who are considering President Obama’s proposed budget for Fiscal Year 2016...

[Son House]

House Democratic Leaders Economic Forum

“the fact that we’re looking at an absolutely horrendous long-term fiscal outlook”

Raise the debt ceiling again Speaker Boehner!...

[dforest]

Very lovely pictures. You have a nice set up there. I can see you are proud of it!

[PLMerite]

"$210 trillion. Nearly a quarter of a quadrillion dollars. We need another bake sale."

[TurboZamboni]

Doomage ping

[PGalt]

Post/thread BUMP!

[Calpublican]

Lovely pictures. Enjoyed them. My parents were both born in Western Kentucky. It is a beautiful state.

I see you have planned ahead, but I’m such a doom and gloomer I fear those who have planned ahead will be victimized by those who haven’t.

[Calpublican]

When we get caught up talking about all the politics I can’t help but think of the old saying,” we’re just rearranging the deck chairs on the Titanic.”

[SkyPilot]

I can see where world war could happen because of it. I hope we get raptured out first.

Me too! Maranatha!

Mark/Jan - me three. Amen.

[kiryandil]

The Uniparty must be destroyed.

The Managerial State must be destroyed.

http://en.wikipedia.org/wiki/Managerial_state

[SkyPilot]

Great place!

[Mark17]

Hate to burst your bubble but there wont be a Rapture.

We are here for the duration.

I hope there will be, but we shall see. The bottom line is, I don't see how this can go on indefinitely, without something blowing wide open.

[Jan_Sobieski]

I think about this often

[Jan_Sobieski]

Good answer. We know there will be a Rapture, but we do not know when. "God has not appointed us to wrath, but to obtain salvation..."

The rapture typology is throughout the Bible starting with Enoch, Noah, and Lot, all they way to Christians in Jerusalem being able to flee to Pella during AD70. In Luke 17, Jesus seems to indicate that it will happen at a time when there is still some level of normalcy in the world...

[mom of young patriots]

“We’ve already cruised way past the time where I thought we’d be in big trouble.”

I visualize Wile E Coyote suspended in mid air way above the canyon floor and it’s about to dawn on him that he’s just stepped off of the cliff. Why we haven’t fallen yet, I can’t explain.

[Jan_Sobieski]

Yep...unbelievable?!?! I guess a nation deserves its leaders...

[Jan_Sobieski]

The term for multiple fulfillments of Bible Prophecy is called Midrash. Example: Hosea "...out of Egypt have I called my son" fulfilled multiple times Abraham, Moses, Israel, Jesus, and ultimately "all of us must come out of Egypt". The ultimate fulfillment is called the Eschaton.

I do not argue that parts of Revelation 6 were fulfilled previously. But there will be a final and ultimate eschaton in the Great Tribulation (70th week of Daniel)

[Jan_Sobieski]

That’s right! I heard it worked pretty good for Zimbabwe!

[Jan_Sobieski]

Good read! Ping for later!

[faithhopecharity]

I’m rich. I have some $1 Trillion dollar bills. Currency Very pretty too. Unfortunately they’re issued by Zimbabwe Alas. So close and yet so far.

[editor-surveyor]

Nonsense to an unbeliever for sure!

The fullness of scripture to one of Yeshua’s own.
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